150+ Executives Reveal Employee Benefits, Stress, and Burnout Contribute to Lack of Engagement in New Report by The Predictive Index and StudioID; Lack of Alignment Between Business and People Strategies Likely Root Cause
BOSTON–(BUSINESS WIRE)–The Predictive Index, an award-winning talent optimization platform that aligns business strategy with people strategy for optimal business results, and HR Dive, a publication providing in-depth journalism and insight into the most impactful news and trends shaping human resources, jointly released the 2023 State of Talent Optimization Report. In a survey of 159 HR executives, the data reveals only 50% of HR executives have a business strategy, and only 33% have a business strategy that aligns with their talent strategy.
“We think about our business strategy, and we fall in love with the technical and operational bits, and we think about new products and metrics and numbers, and we act as if people aren’t what make it all happen,” said Dr. Matt Poepsel, Ph.D., and Vice President of Professional Services at the Predictive Index. “Mental health undeniably impacts employee engagement and with May being ‘Mental Health Awareness month,’ the 2023 State of Talent Optimization Report uncovers the importance of workplace well-being.”
Employee Benefits, Stress, and Burnout Contribute to Lack of Engagement and Retention
Benefits drive retention: 63% of executives consider benefits like wellness a main driver of employee retention
Companies must double down on well-being: Despite benefits like wellness being a major driver of retention, only 32% of HR executives believe that physical/mental well-being is a fundamental value within their company.
Employee disengagement is a top concern: 40% of HR executives believe stress and/or burnout is a major concern or challenge among employees, which significantly impacts engagement.
A full copy of the 2023 State of Talent Optimization Report is available at: https://www.predictiveindex.com/the-state-of-talent-optimization-report-2023/?utm_medium=pr&utm_source=mixed-pi&utm_content=2023-to-report.
The Wellness Conversation Continues in PI’s Perspectives Webinar Series
In today’s business world, organizations need to constantly adapt; whether it’s to the market, its people, or other external forces. On May 10, 2023, The Predictive Index will present the next session in its monthly Perspectives Webinar Series, hosted by PI’s VP of Professional Services Matt Poepsel, Ph.D. and author of the new book Expand the Circle. Each month during Perspectives, attendees hear from a mixed panel of business and talent experts as they discuss the shared challenges organizations face—and the keys to long-term success.
May’s session, Mind Your Business: How Mental Health Awareness Boosts Employee Wellness and Your Bottom Line, will discuss key topics around the importance of well-being found in the 2023 State of Talent Optimization Report and will help attendees:
Discover the critical connection between wellness and performance
Learn how a mindfulness program can enhance your organizational culture
Identify the key considerations when introducing or expanding mindfulness programs with your employees
About The Survey
The 2023 State of Talent Optimization Report was conducted in partnership between HR Dive, a platform that provides in-depth journalism and insight into the most impactful news and trends shaping human resources, and The Predictive Index, an award-winning talent optimization platform that aligns business strategy with people strategy for optimal business results. A total of 159 executives participated in the study, all of whom have Human Resources titles—except for 7% who are CEOs. Of the participants, more than a third have the title of Director of HR, while the second two most popular titles were CHRO and VP of HR. Survey participants span a wide range of industries, with the most common being healthcare, consumer services, and retail. Three in four (76%) survey respondents work for organizations with 100 to 999 employees, and the findings of this research are based on an online survey conducted in February 2023.
About The Predictive Index
The Predictive Index (PI) is an award-winning talent optimization platform that aligns business strategy with people strategy for optimal business results. More than 60 years of proven science, software, and a curriculum of insightful management workshops make PI the solution for any company looking to design great teams and culture, make objective hiring decisions, foster engagement, and inspire greatness in their people anywhere in the world. More than 10,000 clients and 480+ partners use PI—including Nissan, Citizens Bank, Subway, Blue Cross Blue Shield, and Omni Hotels—across 90+ countries. Learn more at https://www.predictiveindex.com/.
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The Predictive Index